I started a service-based business three years ago, and we just hit six figures in revenue (only about 10-20% is profit). I know exactly what I need to do to expand the business and grow in profitability; however, I hate this industry.
I struggle to find qualified candidates to offer the service. The clients are extremely demanding and high-maintenance. I hate offering the service myself due to the clients.
Has anyone else started a business they hate? I don’t want to just “give up” when the company could be successful, but I can’t stand this industry…
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A friend of mine started a service business 10 years ago, and he hates it too. Every year he says it’s the last year, he will sell and move on, but the money is good, and it’s the only thing that he knows, so every year he comes back to do it again.
Whatever you do, I would plan for the long-term. If you hate it now, you will hate it five years from now, and if that’s the case, what do you want to do with your life?
I’m in exact same position, I could have wrote this post myself. I’m 5 years in and trying to sell. I’ve destroyed my mental and physical health. My employees I’ve had were immensely overpaid (me hoping they would care about doing a good job) and ended up being dishonest and adjusting their pays by adding hours and cashing out services dishonestly. Once I took a deeper look at things it broke my heart. I’m not an authoritative person … people walked all over me in ways I never could have imagined. I will never trust anyone to work for me again. I’m doing all the services and running the business until it sells. Everyday I wake up that I have to work, I have to force myself out of the house I’m often sobbing in despair.
Get a business partner. One who doesn’t take any shit, put them on a profit share and let them loose on implementing standards and discipline amongst your employees. You meanwhile, take your lovely demeanour and be the customer facing side of the company. Me and my brother have run like this for years and it works. He’s the nice guy, I’m the arse kicker. Play to your strengths. Believe it or not, being a nice guy can be a major strength if you play it right.
This is great advice, I tried to get a partner last year… a few people were interested but couldn’t get them to follow through. I’m so far past the point of burn out, I pray every day for it to be over. I would make a terrible partner at this point. Need to sell and cash out asap, get what I can and be 100% done. I have people interested to buy 🤞
I think you can say you gave it a good shot but if it’s making you unhappy, it’s never going to be worth it. You need to at least like the majority of the time you spend working. Cash out if you can mate, life’s too short. Good luck with everything 👍🏻
Yes. I taught music on a high level for several years. When I finally quit I had such a burning disgusted disdain for all musicians that I still to this day cannot bear to listen to music. It is a horrible feeling and it sounds like you are setting yourself up for it.
Different business, different problems, but root causes seem to be similar. Ever growing consumer and employee expectations in an environment of limited employer resources. Sometimes it feels like they want you to just give it away for free.
The pain points you feel may be your exposure of the gaps in this business model. Instead of being frustrated by those gaps you may develop a fire to change or revolutionize the industry - to both save your sanity and address those identified issues. This perspective has altered the way I look at my own industry and has given me a renewed passion for increasing (not just continuing) my participation.
Best of luck.
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